Global Oncolytic Virus Therapy Market Deep Research Study and Forecast to 2030

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "global oncolytic virus therapy market trends, industry competition analysis, revenue and forecast to 2030."

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Oncolytic virus therapy is a type of cancer therapy that uses viruses to infect and destroy malignant cells and activate the patient's immune system to recognize the cancer cells as "foreign tissue." Such novel treatments are desperately needed to improve patient outcomes and relieve the financial burden and impact on healthcare system resources.

Factors such as the advancement of medical technologies, the increasing number of clinical trials for cancer therapies, high prevalence of cancer, increased demand for personalized medicine, rising awareness among people regarding the cancer causes and novel treatments, rising R&D investments for the development of cancer therapies are anticipated to fuel the market growth over the forecast period. Cancer has a significant impact on society across the world. According to the WHO, it accounted for nearly 10 million deaths in 2020. Thus, the increasing need to develop novel and cost-effective cancer therapies is likely to boost the growth of oncolytic virus therapy in the coming years.

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However, the high cost of oncolytic virus therapy, lack of therapy-specific assays, and therapy side effects are expected to affect the market growth during the forecast period.
Geographically, North America dominated the market in 2020 and is expected to continue its trend over the forecast years owing to the well-established healthcare infrastructure and growing healthcare expenditure. Europe and Asia-Pacific are estimated to grow significantly during the forecast period due to the high prevalence of cancer and increasing R&D initiatives to develop effective cancer therapies.

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Major market players operating in the oncolytic virus therapy market include Provectus Biopharmaceuticals, Inc. (US), Takara Bio Inc. (Japan), SillaJen, Inc. (South Korea), Oncorus, Inc. (US), Amgen (US), OncoMyx Therapeutics, Inc. (US), Replimune Inc. (US), Oncolytics Biotech (Canada), Vyriad, Inc. (US), Viralytics (Australia), Transgene SA (France), OncolysBioPharma (Japan), Sorrento Therapeutics (US), Lokon Pharma AB (Sweden), Genelux Corporation (US) among others.

Some of the key developments in the market are as follows:
In September 2021, Genelux Corporation (US), a clinical-stage immunotherapy company, and Newsoara BioPharma Co., Ltd. Entered into a license agreement. As per the agreement, Genelux granted Newsoara exclusive license to Olvi-Vec and to its oncolytic virus library in the Greater China Region. Olvi-Vec is a proprietary, non-pathogenic oncolytic vaccinia virus modified to increase its safety, tumor selectivity, and therapeutic potential.

In June 2019, OncoMyx Therapeutics (US), the latest biotech spinout company, raised $25 million in new funding to help commercialize an innovative, viral-based therapy for cancer treatment.
In November 2018, Oncorus, Inc. (US), an oncolytic virus company, nominated ONCR-177, a next-generation locally administered oncolytic virus clinical candidate for multiple solid tumor indications. ONCR-177 utilizes Oncorus' proprietary, next-generation oncolytic herpes simplex virus (oHSV) platform.

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Market Segments
Global Oncolytic Virus Therapy Market, by Product, 2020-2030 (Value US$ Mn)
Herpes Simplex Virus (HSV)
Adenoviruses
Vaccinia Virus
Vesicular Stomatitis Virus
Newcastle Disease Virus

Global Oncolytic Virus Therapy Market, by Indication, 2020-2030 (Value US$ Mn)
Melanoma
Prostate Cancer
Breast Cancer
Ovarian Cancer
Others

Global Oncolytic Virus Therapy Market, by Region, 2020-2030 (Value US$ Mn)
North America
Europe
Asia Pacific
Latin America
Middle East & Africa

North America Oncolytic Virus Therapy Market, by Country, 2020-2030 (Value US$ Mn)
U.S.
Canada
Europe Oncolytic Virus Therapy Market, by Country, 2020-2030 (Value US$ Mn)
Germany
France
Italy
Spain
Russia
Rest of Europe

Asia Pacific Oncolytic Virus Therapy Market, by Country, 2020-2030 (Value US$ Mn)
India
China
Japan
South Korea
Australia & New Zealand

Latin America Oncolytic Virus Therapy Market, by Country, 2020-2030 (Value US$ Mn)
Brazil
Mexico
Rest of Latin America

Middle East & Africa Oncolytic Virus Therapy Market, by Country, 2020-2030 (Value US$ Mn)
GCC Countries
South Africa
Rest of Middle East & Africa

Why should buy this report:
To receive a comprehensive analysis of the prospects for the global oncolytic virus therapy market
To receive an industry overview and future trends in the oncolytic virus therapy market
To analyze the oncolytic virus therapy market drivers and challenges
To get information on the oncolytic virus therapy market value (US$ Mn) and forecast to 2030
Significant investments, mergers & acquisitions in the oncolytic virus therapy market industry

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